IATA attacks Egypt

Dino D'Amore
By Dino D'Amore June 6, 2016 10:16

IATA attacks Egypt

The International Air Transport Association (IATA), said on Friday that Egypt is not doing enough to release funds to airlines. “Our members… are concerned,” IATA director-general Tony Tyler said. “The volume of funds stuck in the country… is steadily growing.” The Egyptian central bank reportedly “addressed” the concerns of airlines in March. However, IATA says Egypt is blocking the repatriation of $291 million (Dh1.07 billion).

IATA this week also called on Venezuela, Nigeria, Angola and Sudan to stop blocking funds. More than $5 billion is being held by Egypt and the four nations, according to IATA.

Dino D'Amore
By Dino D'Amore June 6, 2016 10:16